Crocs Inc (CROX)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 149,288 | 191,629 | 213,197 | 135,802 | 108,253 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 698,296 | 641,274 | 388,243 | 291,584 | 257,223 |
| Cash ratio | 0.21 | 0.30 | 0.55 | 0.47 | 0.42 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($149,288K
+ $—K)
÷ $698,296K
= 0.21
Crocs Inc's cash ratio has fluctuated over the past five years. In 2023, the cash ratio stands at 0.28, indicating that the company has $0.28 in cash and cash equivalents for every $1 of current liabilities. This ratio has decreased compared to the previous year, where it was at 0.35. The downward trend could potentially signal a tightening liquidity position, as the company may have less immediate cash available to cover its short-term obligations.
Comparing to prior years, the cash ratio was significantly higher in 2021 at 0.61, indicating a stronger liquidity position with more cash relative to current liabilities. However, the ratios for 2020 and 2019 were closer to the 2023 level, at 0.53 and 0.52, respectively.
In summary, Crocs Inc's cash ratio has shown variability over the years, with the 2023 ratio being the lowest in the past five years. This may suggest a need for the company to carefully manage its cash resources to ensure it can meet its short-term obligations efficiently.
Peer comparison
Dec 31, 2023